The Tourism Ministry has cancelled the award letter for the lease of Alif Alif Alikoi Rah island, connected to former Managing Director of Housing Development Corporation (HDC) Ibrahim Fazul Rasheed, who is accused of fraud and bribery.

The award letter to develop a tourist resort on Alikoi Rah was issued to Maziya Services. The cost is USD 1.2 million. The award letter was issued to Maziya Services on June 26, 2024.

Maziya Services is closely associated with Fazul. Although Fazul does not have a stake in the company, reliable sources told Adhadhu on condition of anonymity that he was ready to fund a large portion of the lease acquisition cost.

The Tourism Ministry has been extending the deadline given to Maziya Services to pay the acquisition cost. According to documents obtained by Adhadhu, the latest deadline ended on November 10. The ministry has since cancelled the award letter without extending the deadline.

However, a source with ties to Maziya Services told Adhadhu today that the award letter was cancelled before the deadline ended.

"But we didn't want to get into it anymore. It was a big headache," the source said.

Another source said the award letter was cancelled on the direct order of the President's Office. A senior official at the Tourism Ministry also confirmed that orders came from the President's Office after the Binveriya housing scheme's corruption surfaced.

Although unofficially confirmed, the Tourism Ministry declined to give an official comment to protect the confidentiality of transactions with investors.